Core Insights - Vanguard is expanding its Investor Choice program to allow ETF investors to direct how their shares are voted in proxies, including significant corporate compensation packages [1][2] - The program will apply to approximately $3 trillion in assets and 20 million investors, enhancing individual investor influence over proxy voting [6] Vanguard's Investor Choice Program - The program offers several proxy voting options, including following corporate board recommendations, third-party advisor policies, mirroring other shareholders' votes, and ESG recommendations [2][4] - Vanguard aims to address regulatory concerns regarding its influence in corporate America by allowing individual investors to direct votes, thereby mitigating criticisms of its size [3][4] Adoption and Impact - Currently, about $1 trillion in assets are involved in the program, with only 80,000 investors opting for a voting policy for the 2025 proxy season, indicating a need for broader awareness [6] - No single voting policy received more than 35% adoption, suggesting a diverse range of preferences among investors [6]